January 26, 1996 |
One day after AST Research Inc. reported the biggest quarterly loss in the computer maker's history, Chief Executive Ian Diery sought to raise investors' spirits Thursday at AST's annual shareholders meeting. The company's performance last quarter, in which AST lost nearly $129 million, "is full of good news and bad news," Diery said.
November 23, 1995
Troubled computer maker AST Research Inc. said it will receive a $50 million short-term loan from Samsung Electronics, part of a financial deal announced earlier this month that will boost Samsung's stake in AST and give it control of the computer company's board of directors. The loan is the first installment of an arrangement in which Samsung, the Korean electronics giant, will provide Irvine-based AST with a line of credit of up to $100 million until Nov. 30, 1996.
September 7, 1996 |
Another executive has headed for the exits at AST Research Inc. The struggling computer manufacturer said Friday that its chief financial officer, Joseph Norberg, has resigned. Norberg joined the Irvine-based company only four months ago; his departure comes 10 days after the tenure of AST's chief executive, Ian Diery, came to an end. Diery, hired in November to rescue the company, resigned unexpectedly last week.
September 9, 1996 |
Ian Diery's sudden resignation as chief executive of AST Research Inc. in Irvine two weeks ago caught many by surprise, including Computer Reseller News. The Diery news broke so late that the weekly trade magazine didn't have time to revise an interview with the former CEO published last week. As a result, the magazine printed a story in which Diery talked at length about the future of AST, even though he was no longer part of that future.
June 24, 1996 |
Ian Diery left Apple Computer and joined AST Research Inc. in Irvine last year, but the pay he received from his former employer ranked 74th in a list of the top 150 salaries and compensation packages in the computer industry published recently by the trade publication Computer Reseller News. Diery, who was paid $790,636 in 1995 by Apple, left the company as part of a management shakeout in April 1995, and was named chief executive at AST last November.
October 5, 1996
The management shuffle continued Friday at struggling AST Research Inc., as the computer maker said that two of its top sales executives have resigned and that one has been replaced by a consultant from Samsung Electronics, AST's largest shareholder. The latest to leave the Irvine-based company were Michael Willcocks, 47, who was senior vice president, Asia Pacific, and Gerald T. Devlin, 50, senior vice president, Americas.
September 7, 1996 |
Another executive has headed for the exits at AST Research Inc. The struggling computer manufacturer said Friday that its chief financial officer, Joseph Norberg, has resigned. Norberg joined the Irvine-based company only four months ago, and his departure comes 10 days after the tenure of AST's chief executive, Ian Diery, also came to an end. Diery, hired last November to rescue the company, resigned unexpectedly last week.
December 2, 1995 |
AST Research Inc. has fired 530 employees at a factory in Hong Kong as part of what the company said is an effort to cut costs and buy more of its computer components from outside vendors. The Irvine-based computer manufacturing giant also said its second-quarter earnings will be reduced by $20 million as a result of the restructuring. The troubled company has posted five consecutive quarterly losses totaling almost $196 million.
March 23, 1996 |
AST Research Inc. shares fell 9% on Friday after the computer maker said it expects its first-quarter loss to be worse than analysts' estimates. Shares of the troubled Irvine-based company fell 50 cents to a 52-week low of $5 on Nasdaq, on volume of 906,500 shares, much higher than the three-month average daily volume of 209,000 shares. The stock traded as low as $4.625.
December 22, 1995 |
Christmas came a few days early for AST Research Inc. as the troubled company got $300 million in financial support from Samsung Electronics, triple the size of the package the companies had agreed upon in preliminary negotiations last month. As part of the deal, Samsung will provide AST with a bank credit guarantee of as much as $200 million for two years, as well as an additional $100 million to cover AST's purchases of computer components from Samsung.